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A perpetuity will make annual payments, with the first payment coming 9 years from now. The first payment is for 4900 dollars and each payment

A perpetuity will make annual payments, with the first payment coming 9 years from now. The first payment is for 4900 dollars and each payment that follows is 150 dollars more than the one before. If the effective rate of interest is 5.3 percent, what is the present value?

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